AptarGroup Inc

ATR: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Aptar Earnings: Third-Quarter Results Above Expectations; Fair Value Estimate Raised to $164

Jay Lee

Oct 25, 2024

Narrow-moat Aptar's third-quarter earnings exceeded our expectations, driven by strong revenue growth and profit margins in the pharma segment. Revenue for the three months was $909 million, or 2% year-on-year growth, despite a difficult comparison period. Adjusted EBITDA margin was 22.9%, or 1.2 percentage points better than the same period last year. We raise our fair value to $164 per share from $147 as we increase our growth forecasts for the pharma segment.

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AptarGroup Inc

Aptar Earnings: Third-Quarter Results Above Expectations; Fair Value Estimate Raised to $164

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